Originally Posted by
FloraDora
I grew up in the Thatcher era of you had to be a home owner - which I am now, mortgage paid but not without some scary moments of unemployment and high interest rates. My sons, who live in Brighton and Manchester have no immediate intention of being home owners, especially the one in Brighton - his 1 bed flat would cost more than my 4bed detached -with a 10 year+ plus salary as a deposit. They are of the mindset that very few people in Europe aspire to be home owners, the flexibility of renting and the impossibility of getting affordable mortgages that are not wrapped up in % being owned by someone else means they are quite happy renting.
As a 70's girl this has taken a bit of getting used to ..... But I like that they are enjoying life and not worrying about what they can't afford.
The world is changing, home ownership is not the automatic pathway now for a most young people. My advice would be to enjoy life now, and save, if you can, as credit ratings have a life span. Enjoy the fact that someone else is responsible for repairs and put this dream on the shelf for a bit until you are better placed in life.
My brother, who is in his 60's spent his whole life in army accomodation and has only recently bought a home - near the seaside.
You don't have to own your own home to be happy.